HP Inc. (NYSE:HPQ) Shares Sold by Stifel Financial Corp

Stifel Financial Corp lessened its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 17.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 384,030 shares of the computer maker's stock after selling 80,430 shares during the quarter. Stifel Financial Corp's holdings in HP were worth $13,775,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of HPQ. Chris Bulman Inc acquired a new position in HP during the second quarter worth $88,000. Principal Financial Group Inc. increased its holdings in shares of HP by 16.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker's stock valued at $41,391,000 after purchasing an additional 160,268 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of HP in the second quarter valued at about $621,000. State of Alaska Department of Revenue lifted its stake in shares of HP by 11.4% in the third quarter. State of Alaska Department of Revenue now owns 193,700 shares of the computer maker's stock valued at $6,947,000 after purchasing an additional 19,845 shares during the period. Finally, National Pension Service boosted its holdings in HP by 24.1% during the third quarter. National Pension Service now owns 2,162,772 shares of the computer maker's stock worth $77,579,000 after buying an additional 419,774 shares in the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

HP Price Performance

NYSE:HPQ traded down $0.02 during mid-day trading on Wednesday, reaching $34.63. The company's stock had a trading volume of 3,915,856 shares, compared to its average volume of 7,839,047. The stock has a market cap of $33.37 billion, a P/E ratio of 12.31, a P/E/G ratio of 3.09 and a beta of 1.04. The company's fifty day simple moving average is $36.64 and its two-hundred day simple moving average is $35.82. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.79.

HP (NYSE:HPQ - Get Free Report) last released its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. The business had revenue of $14.06 billion for the quarter, compared to analysts' expectations of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company's quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the company earned $0.90 earnings per share. Sell-side analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be given a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Wednesday, December 11th. This is an increase from HP's previous quarterly dividend of $0.28. HP's payout ratio is 40.93%.

HP declared that its Board of Directors has approved a stock repurchase program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

HPQ has been the subject of a number of research reports. TD Cowen lifted their price target on shares of HP from $32.00 to $39.00 and gave the company a "hold" rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. decreased their target price on HP from $42.00 to $41.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 20th. UBS Group raised their target price on shares of HP from $34.00 to $37.00 and gave the company a "neutral" rating in a report on Thursday, August 29th. Morgan Stanley cut their price objective on HP from $37.00 to $36.00 and set an "equal weight" rating for the company in a research report on Thursday, August 29th. Finally, Citigroup reduced their target price on HP from $37.00 to $36.50 and set a "neutral" rating on the stock in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, HP presently has a consensus rating of "Hold" and a consensus target price of $36.77.

Insiders Place Their Bets

In related news, CEO Enrique Lores sold 211,501 shares of the firm's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the sale, the chief executive officer now directly owns 3 shares in the company, valued at approximately $99.48. This trade represents a 100.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alex Cho sold 10,298 shares of the company's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $34.32, for a total transaction of $353,427.36. Following the completion of the transaction, the insider now owns 64,676 shares of the company's stock, valued at $2,219,680.32. This trade represents a 13.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 358,893 shares of company stock worth $12,363,877 over the last three months. 0.41% of the stock is owned by insiders.

About HP

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.